What is the current situation and prospect of domestic credit reporting industry?

Overview of Credit Information Development in China

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Judging from the development history of China's credit reporting, it has developed slowly and has not been paid due attention for a long time. Correspondingly, in the economic and social development, a series of problems related to honesty, such as rampant counterfeit goods and food safety, occur from time to time, and credit is seriously lacking in social and economic life.

Prospect of future credit system development

Although China's credit information market is very different from that of foreign countries, and the behavior concept of citizens' preference for saving is the first in the world, this is in sharp contrast with the credit information market in the United States because people prefer to spend in advance. However, with the transformation of the domestic economy, the continuous rise of measures to stimulate consumption, and the continuous growth of various loans in the consumer sector, it is expected that the demand for credit information will continue to grow. With the request of the central bank in 20 15 10/5, eight institutions, including Sesame Credit, Tencent Credit, Lacarra Credit, Shenzhen Qianhai Credit, Pengyuanzheng Credit, China Chengxin, Zhongzhicheng Credit and Beijing Huadao Credit, made preparations for personal credit. It is expected that China's future credit system will be dominated by the central bank, but some Internet credit reporting agencies will also play an important role.

In China, even the most mature central bank credit information system only covers 800 million people, and the groups with transaction records available for credit information are mainly people with mature and stable economic ability, with a total of only 300 million people. Another 500 million people only have basic information in the central bank's credit information system, which is still a blank market for credit information. Coupled with those whose basic information has not been recorded by the central bank, this reflects that our credit information system still has a long way to go. From the perspective of domestic development, although banks have more detailed data on depositors, they still can't effectively distinguish high-risk people from low-risk people, so they can't provide credit services for this group. In the face of this problem, perhaps Internet credit reporting can provide better coverage. Internet credit rating is not only to subvert the existing system, but to supplement the existing system, so that financial institutions can judge personal credit more comprehensively and accurately. In this way, the system of traditional financial institutions is judged from the front, but sometimes a person's front may not be easy to see, while Internet credit reporting describes a person's situation from the side or even the back, and provides it to financial institutions as a key reference for judging the personal credit degree.

Based on the credit system and future development of Sesame Credit, the credit score of individual user information collected at present is between 350 and 950 after processing, sorting and calculating. The higher the score, the better the credit rating. Higher sesame credit score can help individuals get more efficient and better service. Sesame comprehensively considers the information of individual users from five dimensions: credit record, behavior preference, performance ability, identity characteristics and personal relationship.

1) Credit records: past credit account repayment records and credit account history.

2) Behavior preference: preference and stability in shopping, payment, transfer, financial management and other activities.

3) Performance ability: Enjoy various credit services to ensure timely performance.

4) Identity: Sufficient and reliable personal basic information left in the process of using related services.

5) Interpersonal relationship: the identity characteristics of friends and the degree of interaction with friends.

In the future, authorizing Sesame Credit to obtain more personal information will improve the coincidence between credit score and personal credit status.

1, changes brought by market-oriented credit reporting agencies to society

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The slow development of China's credit information industry is closely related to the government's failure to clearly define its role in the credit information market. However, with the redefinition of the relationship between the government and the market at the 18th National Congress, the development of China's credit reporting industry, especially the development of enterprises and individuals, has reached a critical turning point.

Published on 20 15-06- 14.

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Howard, ten-year bank risk management, CFA, CPA

Wei Lun, Jiangxi Zhao, Kang Zai

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There are two kinds of credit investigation, one is Fico scoring model. The core mathematical model is to predict the default probability of customers according to the loan information, and then apply different algorithms according to different customer groups. Different variables and parameters are the core technologies of FICO. The purpose is to approve the risk pricing of bank loans and so on. In an exaggerated case, people who have no credit in America will never move …

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There are two kinds of credit investigation, one is Fico scoring model. The core mathematical model is to predict the default probability of customers according to the loan information, and then apply different algorithms according to different customer groups.

Different variables and parameters are the core technologies of FICO. The purpose is to approve the risk pricing of bank loans and so on. To exaggerate the situation, people who have no credit in the United States can't move, and they need to look at the credit report when renting a house and looking for a job. People with high scores should have cheap car loan insurance.

By the way, the subprime mortgage crisis is not the failure of fico, but that banks are too greedy, lowering standards and abusing standards.

One is that people without any credit history, such as migrant workers at the bottom of society, are very difficult. These people can only find zestfinance, a usury credit information system. Mainly through the way of human flesh search, through the borrower's network activity information and non-financial information scattered in various websites and forums, mining credit-related information.

From the perspective of data scientists, bank micro-loans are data creators, and data must be shared. For example, the bank provides data to the People's Bank of China and the People's Bank of China produces credit reports.

Big data credit reporting is not a concept, it needs at least several years of data, a computer room with distributed computing power, and a team of people who know algorithms.

A bank or credit company building a website is big data credit reporting, and that is hype.